Bonus Dollars = Achieve Your Goals!
Questions about the following information can be directed to FMAPQuestions@arcmonroe.org
Beginning in April 2022, you will see some extra dollars deposited in your paycheck. These incentive dollars are coming directly from the federal government and will be significant. The Arc of Monroe will receive around $6 million, and will disperse these payments to DSPs over a 6-month period. They will be dispersed in four categories: Longevity, Retention, COVID Service and COVID Vaccine. This is great news!
We urge you to learn more about these payments, and the options available to you including reducing your income by making a retirement contribution (403B), opening an Individual Retirement Account (IRA), contributing to your HSA, paying down your debt, building an emergency fund, saving or treating yourself a little! You can find some important guidance on this page!
If you have any questions, please address them to FMAPQuestions@arcmonroe.org and we will do our best to find the answers.
Click here for The Arc of Monroe’s Full Distribution Plan.
Latest Tutorial Videos to Help you Manage Your Dollars
In this webinar, Tom Mcgrath, a Certified Financial Planner from Ballston Spa National Bank joins Ryan Cox from the New York Alliance for Inclusion and Innovation and Anthony Ismael from the Regional Centers for Workforce Transformation to discuss the various ways that individuals who are receiving the workforce incentive payments might utilize these funds. Tom will offer suggestions and best practices when it comes to paying down debt, saving for the unexpected, college education planning, investment options, as well as general financial options. When it comes to your finances everyone has a different situation. This 30-minute webinar is intended to provide DSP’s with an understanding of what your financial options are and some best practices to help you plan for how to make the most of the workforce incentive payments.*
This is part three of a series of webinars developed to support Not for Profit Direct Support Professionals in New York State understand the impact that the financial incentives might impact the benefits they might currently receive.